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An Introduction to the National Electrictiy Market

SEMINAR OUTLINE

The seminar will provide an overview of the various components of the electricity market and discuss some current issues such as electricity prices, renewable energy generation, power
system security and frequency control.

The seminar will discuss the:

  • structure of the electricity industry, the regulatory framework,and the roles of the various organisations.
  • operation of the spot market covering bidding, dispatch and pricing.
  • energy market and eight frequency control ancillary services (FCAS) markets are co-optimised and generation is dispatched to meet demand subject to power system constraints.

Spot prices can be volatile and market participants may want to manage their risk of exposure to spot prices by trading in derivatives. These may be hedge contracts negotiated between two parties, or futures contracts traded through the ASX. Examples of these contracts and financial outcomes under various conditions will be discussed.

The electricity market is data intensive. Operational data is required for operation of the power system and the market. Market data provides information on the operation of the
market.   

Settlement is calculated by metered energy multiplied by spot price for each trading interval.  Complete and accurate metering data is therefore essential for settlement. The 
requirements for metering installations and management of metering data is set out in Chapter 7 of the National Electricity Rules.  The seminar will discuss the requirements for metering and the business processes associated with metering data management.

There are risks in trading in the electricity market. The seminar will discuss the types of risks that participants are exposed to, the ways in which the risks can be managed and case
studies where organisations have had failures of risk management.

The Program can be downloaded by clicking HERE

Presenter

The seminar will be presented by industry expert David Strong of David Strong & Associates.

David is a very experienced and knowledgeable industry expert who has worked in various roles in the Sector since 1980.  
His experience includes insulation coordination, electric and magnetic fields, transmission line design, system planning, environmental assessment and planning approvals, and strategic planning. 

In the early 1990s David became involved in the establishment of the Victorian Electricity Market and development of the National Electricity Market (NEM) and was appointed Manager Settlements at Victorian Power Exchange.  He was also responsible for the development and running of electricity market seminars and workshops. 

In August 1999 David Strong established David Strong & Associates to become a consultant to the electricity industry.  He has provided expert opinion and analysis to several electricity companies and utilities on business processes and IT systems particularly related to the management of metering data, and has carried out analysis of electricity market outcomes. 

This seminar provides an excellent opportunity to learn or refresh your understanding of the basics of the operation of the National Electricty Market and also will provide an opportunity to consider alternative market types used around the globe.

The Program can be downloaded by clicking HERE

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Please NOTE:  The Seminar will only be offered if we receive a minimum of 12 Delegates